The DeFi craze has been massive this year and it is undoubtedly becoming one of the hottest topics in the cryptocurrency. Several DeFi projects have boomed over the past months with some notable ones like Yearn.finance up more than 300% from last month. Exchanges continue to list more DeFi assets and OKEx is the latest.
According to an announcement, the Malta-based crypto exchange is doubling-down on its DeFi efforts with a major listing of 8 DeFi tokens in one day.
Jay Hao, CEO of OKEX, has assured customers that the company will continue to act in accordance with the growing DeFi trend. He said:
“OKEx has been keenly observing the DeFi market dynamics and trying our best to collaborate with high-quality innovative DeFi projects that show the most potential. We are very encouraged to see so many excellent projects emerging in the market, as this also indicates that the DeFi space is developing rapidly.”
The eight “promising” additions to the platform include Band Protocol (BAND), JUST (JST), Ren (REN), Reserve Rights (RSR), Yearn.Finance (YFI), Nexus Mutual (wNXM), YFII.Finance (YFII), and Tellor (TRB).
With this, the exchange claims to be “reinforcing its commitment to the expanding DeFi economy.” This takes the number of DeFi assets available on OKEx to 27, following the recent listings of Mantra DAO’s OM and Decentralised Information Asset (DIA).
The spot trading pairs of these assets against USDT started from 7:00 am UTC on Aug. 28, 2020, and the trading pairs against BTC and ETH launched an hour later.
Besides the addition of these tokens, the exchange has also enabled a new “DeFi category” on its website to allow traders to quickly find information about DeFi coins.
“We continue to be very optimistic about the development prospects of DeFi. We believe that DeFi will become an excellent supplement to the traditional financial system thanks to its core qualities of high-efficiency, high-security, low-friction and low costs,” Jay Hao added.
Soon after the listing some of the tokens even saw a surge in prices with Yearn.Finance leading with a 26% growth to above $19,000, followed by BAND, and TRL up by 9%, NXM by 5%, while Reserve Rights increased by 10%.